The State of New York Mortgage Agency (SONYMA) has boosted lending and programs for minority households and economically disadvantaged communities, increasing its share of loans provided to low-income and minority borrowers over the last 10 years, but wide racial and ethnic disparities persist in homeownership in New York. Improvements to data and reporting are needed so that policymakers have better information to evaluate outcomes and consider whether additional actions are needed, given rising housing burdens across the State.

Stronger than anticipated revenues and lower costs for asylum seekers will help New York City balance its $118 billion fiscal year 2026 budget. However, potential fiscal challenges are emerging, including continued uncertainty regarding federal policy and economic conditions, and fiscal risks from anticipated federal budget cuts. These challenges could limit the City’s potential revenue upside and make it harder to continue to fund recent spending additions for discretionary programs and maintain services.